Category: Insurance

Insurance
2000 Aug Necessity or Luxury?

One might assume that the insurance policies carried by a building would cover any mishaps that would affect residents. This, however, is a misconception. A co-op corporation or condo association takes responsibility for the structural aspe…

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Insurance
2000 Aug Don't Learn the Hard Way

Insurance is always a "hot-button" topic among co-op corporations and condo association boards. Since insurance is an annual expense that is not mandated by a union contract or a city tax assessment, many boards regularly "shop" their cover…

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Insurance
1997 Jul/Aug Directors' and Officers' Insurance

Being elected to serve on the board of your co-op or condo can be viewed as a great honor or a dreadful burden. Those who look for the positive in any new situation will focus on the fact that their neighbors have confidence in their lea…

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Insurance
1996 Dec/Jan Containing Insurance Costs

Members of the insurance industry do not agree on much, but if they agree on one thing it's that insurance can seem like a very complex subject. For board members, there is one clear objective regarding insurance: to secure the lowest pos…

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Insurance
1995 Jul/Aug Risk Purchasing Groups

In August 1986, a Time magazine cover proclaimed America, Your Insurance Has Been Canceled!! The insurance industry was in the midst of what was called a hard market. Policies were being canceled or non-renewed and premiums were escal…

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Insurance
1995 Jul/Aug A Vigorous Fraud Prevention Program

Jonny J. Frank is managing director of Decision Strategies International, an investigative consulting firm that specializes in consulting with corporations on internal fraud prevention and investigation. His firm recently added the metropol…

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Insurance
1995 Dec/Jan Recovering Fraud Loss

There is some good news for cooperatives and condo-miniums that feel they have suffered because of the alleged bribery, extortion, kickbacks and other corrupt acts of some real estate managers and management companies. Insurance may cover…

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